Traders purchased shares of SunTrust Banks, Inc. (NYSE:STI) on weakness during trading hours on Tuesday. $72.29 million flowed into the stock on the tick-up and $29.06 million flowed out of the stock on the tick-down, for a money net flow of $43.23 million into the stock. Of all stocks tracked, SunTrust Banks had the 29th highest net in-flow for the day. SunTrust Banks traded down ($0.31) for the day and closed at $72.27
Several research firms have recently weighed in on STI. Credit Suisse Group lifted their price objective on SunTrust Banks from $71.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday. Zacks Investment Research cut SunTrust Banks from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. Morgan Stanley lifted their price objective on SunTrust Banks from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. ValuEngine upgraded SunTrust Banks from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $79.00 price objective on shares of SunTrust Banks in a report on Sunday, January 21st. Sixteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $69.25.
The company has a market cap of $33,830.00, a P/E ratio of 18.46, a P/E/G ratio of 1.15 and a beta of 1.32. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43.
SunTrust Banks (NYSE:STI) last released its earnings results on Friday, January 19th. The financial services provider reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04. The firm had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.32 billion. SunTrust Banks had a return on equity of 7.24% and a net margin of 19.36%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 EPS. analysts expect that SunTrust Banks, Inc. will post 5.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, February 27th. SunTrust Banks’s dividend payout ratio (DPR) is 41.56%.
In other SunTrust Banks news, Vice Chairman Mark A. Chancy sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $70.13, for a total transaction of $525,975.00. Following the transaction, the insider now owns 149,955 shares of the company’s stock, valued at approximately $10,516,344.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan S. Johnson sold 3,600 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $71.04, for a total value of $255,744.00. Following the transaction, the insider now directly owns 8,857 shares in the company, valued at approximately $629,201.28. The disclosure for this sale can be found here. Insiders have sold a total of 40,348 shares of company stock worth $1,289,757 in the last ninety days. Insiders own 0.55% of the company’s stock.
Several large investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. increased its position in shares of SunTrust Banks by 60.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 28,720 shares of the financial services provider’s stock worth $1,855,000 after purchasing an additional 10,843 shares during the last quarter. Certified Advisory Corp acquired a new position in shares of SunTrust Banks during the 4th quarter worth approximately $241,000. Wagner Wealth Management LLC acquired a new position in shares of SunTrust Banks during the 4th quarter worth approximately $2,318,000. Xact Kapitalforvaltning AB increased its position in shares of SunTrust Banks by 6.2% during the 4th quarter. Xact Kapitalforvaltning AB now owns 93,869 shares of the financial services provider’s stock worth $6,063,000 after purchasing an additional 5,486 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of SunTrust Banks by 14.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 94,229 shares of the financial services provider’s stock worth $6,086,000 after purchasing an additional 12,025 shares during the last quarter. 83.57% of the stock is currently owned by hedge funds and other institutional investors.
SunTrust Banks Company Profile
SunTrust Banks, Inc is a provider of financial services. The Company’s principal subsidiary is SunTrust Bank (the Bank). The Company’s business segments include Consumer Banking and Private Wealth Management, Wholesale Banking, Mortgage Banking and Corporate Other. As of December 31, 2016, the Consumer Banking and Private Wealth Management segment consisted of three primary businesses: Consumer Banking, Consumer Lending and Private Wealth Management.
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